UK industrial sector overspends on energy, new EEF analysis reveals

A new research report released by the Energy Efficiency Financing (EEF) scheme has revealed that the UK industrial sector is overspending on energy up to a staggering £2.2 billion per year.

Based on information obtained from official sources and EEF’s own data, the study looked at a number of sectors to calculate the amount that these industries were overpaying on their energy bills because of inefficient technology, equipment and controls.

The EEF scheme, which provides business finance for the acquisition of energy-efficient equipment, regularly highlights the difficulties that businesses have raising finance for energy-efficiency investments in the current economic climate.

“A major problem for firms has been access to affordable finance to enable business to make those green investments. That is why EEF was created – a joint financing initiative between the Carbon Trust and Siemens – to make finance more accessible and affordable for companies, especially SMEs. The EEF scheme matches monthly payments to real monthly energy cost savings, which means that firms effectively end up paying no extra for their new equipment investment. These investments improve business competitiveness, cut carbon and boost the green growth.”

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